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Optional Life Insurance

UBC’s Optional Life Insurance Plan provides supplementary life insurance coverage in addition to your Basic Group Life Insurance. You can purchase Optional Life Insurance to a maximum of $750,000 for both you and your spouse. Your dependent children are automatically approved for Optional Life Insurance if you are enrolled in the plan (effective March 1, 2015).

For employees

The Optional Life Insurance Plan provides supplementary coverage in addition to your Basic Group Life Insurance through UBC or any other life insurance you may have.

If you are enrolled in UBC’s Basic Group Life Insurance Plan, you are also eligible to apply for the Optional Life Insurance Plan. When you apply for this optional plan, you must complete a Health Statement that is subject to review and approval by Sun Life.

You select the coverage amount when you apply for the plan in units of $25,000, to a maximum of $750,000. You also designate a beneficiary to receive the sum of money (benefit) if you die. If you do not designate a beneficiary, the benefit is paid to your estate.

For spouses

If you are enrolled for UBC’s Basic Group Life Insurance Plan, you are also eligible to apply for the Optional Life Insurance Plan for your spouse. When you apply for this optional plan, your spouse must complete a Health Statement that is subject to review and approval by Sun Life.

You select the coverage amount for your spouse when you apply for the plan in units of $25,000, to a maximum of $750,000. Your spouse should also designate a beneficiary to receive the sum of money (benefit) if they die. If they do not designate a beneficiary, the benefit is payable to their estate.

For dependent children

Effective March 1, 2015, your dependent children are automatically approved for supplementary life insurance coverage under the Optional Life Insurance Plan if you are approved for coverage. You do not need to apply for this optional plan for your dependent children.

For each $25,000 unit of coverage you purchase for yourself, you will receive $5,000 of coverage for each eligible dependent child at no extra charge. If your child’s death, you are the designated beneficiary of the sum of money (benefit). For example, if you are approved for $750,000 Optional Life, each dependent child is covered for $150,000.

If you have an eligible spouse who was approved for Spousal Optional Life Insurance before March 1, 2015, you will receive $5,000 of coverage for each eligible dependent child for each $25,000 unit of spouse coverage at no extra charge.

If both parents are UBC employees, only one dependent child claim is payable.

What are the premiums?

You pay a monthly premium for Optional Life Insurance for coverage for yourself and/or your spouse. For dependent children, there is no additional cost.

The cost of this premium depends on the age of the covered individual, the amount of insurance selected and whether they smoke. Click here for a premiums table.

Premium payments are deducted from your paycheque at the end of each month and they are subject to change annually (each January 1) and as you and/or your spouse age. You pay the full premium cost for coverage.

How do I apply for coverage?

You must apply for Optional Life Insurance for you and/or your spouse. You must be actively at work in order to apply (a disability leave or unpaid leave of absence is not considered actively at work). To apply:

UBC Payroll will verify that you are enrolled for Basic Group Life Insurance Plan and then email or mail you a Sun Life Statement of Health.

Complete and submit the Statement of Health to Sun Life.

Sun Life will review your application and inform you in writing if you are eligible for Optional Life Insurance. UBC Payroll will also be sent a copy of this decision letter. If you are approved, UBC Payroll will enrol you and/or your spouse for coverage using the effective date indicated in Sun Life’s letter. As long as your dependent child is eligible for your other UBC benefits, they will automatically be covered.

When coverage ends, you can convert all or a portion of Optional Life Insurance coverage for you and/or your spouse to an individual policy. You will not be asked to complete a health questionnaire to retain the same level of coverage you and/or your spouse had before your coverage ended. You must convert your policy within 31 days after your coverage ends. This conversion option is not available to dependent children. Learn more.

How do I increase or decrease my coverage?

You can increase or decrease your coverage under the Optional Life Insurance Plan.

To apply for an increase in existing coverage:

Complete the appropriate section of the Optional Life/AD&D Enrolment Form and forward it to UBC Payroll at one of the addresses below. All increases to coverage are subject to providing satisfactory proof of good health to Sun Life.

How do I update my status as a smoker or non-smoker?

Your premium costs are influenced by whether or not you use tobacco products. If you have not used tobacco products for the past 12 months, complete the Optional Life/AD&D Change Form and forward it to UBC Payroll.

For more information

The outline above is a descriptive summary of the plan and is not a contract. All terms and conditions are governed by Contract Number 050555 with Sun Life Assurance Company of Canada. In the event of a discrepancy, benefits will be paid according to the official document and applicable legislation.

You can read the full details of your Optional Life Insurance policy in the Sun Life booklet for your employee group: